alexissmiles · 2017年05月01日
* 问题详情，请 查看题干
问题如下图：
选项：
A. 
B. 
C. 
1. interest rate increases, callable bond不提前赎回，就和straight bond一样，为什么effective duration会lengthen？
2. 答案说as interest rates rise, a call option moves out of the money, which increases the value of the callable bond and lengthens its effective duration. 想请问为什么利率上升，callable bond value会上升，不是应该减小吗？还有为什么callable bond value上升effective duration也会上升？
NO.PZ201602270200002103问题如下3. In Exhibit 2, the bonwhose effective ration will lengthen if interest rates rise is:A.Bon#3.B.Bon#4.C.Bon#5.B is correct.Effective ration incates the sensitivity of a bons prito a 100 bps parallel shift of the benchmark yielcurve assuming no change in the bons cret sprea The effective ration of option-free bonsuBon#3 changes very little in response to interest rate movements. interest rates rise, a call option moves out of the money, whiincreases the value of the callable bonanlengthens its effective ration. In contrast, interest rates rise, a put option moves into the money, whilimits the pripreciation of the putable bonanshortens its effective ration. Thus, the bonwhose effective ration will lengthen if interest rates rise is the callable bon i.e., Bon#4. 看了一下 别人的提问 和解答，感觉对于，利率上涨，e就更长了的，不是很明白。能不能站在债券发行人 和 购买者的角度 来一下这个问题
如果此题问的是利率下降呢？是不是就是putable bonE大了？
请问下强化班哪个视频说到这个知识点？
想请问下，为什么不含权债券，int变化，e乎没有变化？eyielint曲线的斜率。从图上看，int变化，这条曲线上对应点的斜率，是有变化的呀。。
请问一下利率上升，callable bon情况与straight bon该一致吧，那为啥不选A呢？
